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Print Print edition: 2024-06-30

‘Do more’: IMF says budget approval ‘not enough’

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ISLAMABAD: The International Monetary Fund (IMF) on Saturday termed budget 2024-25 approval as not enough and demanded Pakistan to do more.

The National Assembly has approved the Federal Budget for the fiscal year 2024-25 with a total outlay of Rs18,870 billion.

According to sources, the IMF wants Pakistan to hike the electricity and gas rates from July 1 and immediately implement the NEPRA decision regarding the increase in gas and power tariffs.

Budget approved by NA ahead of fresh IMF loan

The IMF also demanded the removal of tax exemptions and subsidies, terming them essential for the country’s economic recovery, sources added.

However, the IMF has lauded the government’s tough economic decisions in the budget, including the reduction of tax exemptions and subsidies, sources said.

Furthermore, the IMF delegation’s visit to Pakistan in the last week of June has been postponed, the team is likely to visit in the second week of July, sources added.

IMF budget

Comments

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Arsalan Jun 30, 2024 05:50am
Removal of tax exemptions and subsidies? what is removed in the budget, all the subsidies and exemptions are still on. what is imf lauding Pakistan for?
0
Maqbo Jun 30, 2024 09:34am
I understand certain categories of people are entitled to Tax free salary’s , plus Pensions and perks of VVIP are Tax free. CJP: please implement our constitution that everyone is equal in tax also
0
Aamir Jun 30, 2024 09:56am
They will not be happy till there is complete stagflation
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KU Jun 30, 2024 11:57am
Sources that BR relies on are either misreporting or lying. IMF has repeatedly said, increase tax base fairly, protect vulnerable/poor, reduce govt expense, reduce energy cost for development, etc.
0
Hussain Jun 30, 2024 02:05pm
Only IMF can save us! These dirty politicians and prince Harry can do nothing!
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Naveed Aslam Jul 01, 2024 09:33am
Elite capture showed its face. Civil and armed bureaucracy both, like sacred cows, kept all the exemptions without any shame. Impotent govt kept taxing already taxed. No change insight.
0
Tahir Ahmed Jul 01, 2024 11:37am
The Finance Minister should now resign. He has not been able to keep his promises of not burdening the salaried class and appreciably increasing the tax net.
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